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Sanctions
Enforcement
British American Tobacco to Pay $629m in DPRK Sanctions Case
By Mark Johnston | 27/04/2023
OFAC’s $508mn penalty, its largest ever against a non-financial institution, settles charges related to the export of tobacco products to North Korea.
AML / KYC
US Official Details Sanctions Evasion Red Flags During European Visit
By Editors | 25/04/2023
Treasury official Brian Nelson met with European officials and FIs last week and shared details about emerging sanctions evasion typologies.
AML / KYC
OFAC Sanctions Three for Facilitating Lazarus Group Activities
By Editors | 25/04/2023
China-based and Hong Kong-based crypto traders and a North Korean national were sanctioned for laundering illegal proceeds for Lazarus Group.
Sanctions
UK, US, EU Announce Fresh Sanctions Against Iran
By Editors | 24/04/2023
US sanctions four senior Iranian law enforcement and military officials; EU sanctions eight Iranians and telco provider; UK sanctions four IRGC commanders.
Enforcement
US Fines Seagate Over Hard Drive Shipments to Huawei
By Sanday Chongo Kabange | 24/04/2023
Seagate was fined $300mn, the largest standalone administrative penalty in BIS history, for shipping hard drives to Huawei in violation of US export controls.
Sanctions
UK Sanctions Russians Over ‘Politically-motivated Conviction’
By Editors | 21/04/2023
The sanctions target two FSB agents who were allegedly involved in poisoning political activist Vladimir Kara-Murza, as well as a judge and two investigators.
Sanctions
Lack of Vessel Ownership Data an Indicator of High Risk
By Manesh Samtani | 20/04/2023
69.2% of vessels with unknown beneficial owners have engaged in risky or sanction-violating behaviour, report finds.
Sanctions
G7 Says Switzerland Is Not Doing Enough to Combat Sanctions Evasion
By Editors | 17/04/2023
Switzerland, though officially neutral, has frozen Russian assets worth about a third of the EUR 21.5 billion frozen across the EU.
Sanctions
US Commerce Dept Adds 12 Chinese Entities to Entity List
By Editors | 15/04/2023
The entities allegedly acquired or attempted to acquire US-origin items in support of Russia’s military effort.
AML / KYC
OFAC Sanctions Chinese Entities in Fentanyl Supply Chain
By Editors | 14/04/2023
The Chinese individuals and companies were allegedly involved in supplying drug cartels with ingredients to make opioids for sale in the US.
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